Business Loans for Geophysical Surveying and Mapping Services

Looking for business loans for geophysical surveying and mapping services? Talk to a banker who works with the SBA. This $10,000 geophysical surveying and mapping services loan was issued by an Indiana bank.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Indianapolis, Indiana was able to borrow $10,000 from The Huntington National Bank. The SBA made the loan possible by guaranteeing $5,000 of this Indiana small business loan.

SBA Loan Borrower

COMPANY TYPE: GEOPHYSICAL SURVEYING AND MAPPING SERVICES
INDIANAPOLIS, IN 46256

SBA Loan Lender

THE HUNTINGTON NATIONAL BANK
45 N PENNSYLVANIA ST
INDIANAPOLIS, IN 46204

The lender provided this debt financing through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

541360 - Geophysical Surveying and Mapping Services

Loan Approval Date

8/26/2004

Loan Approval Gross Amount

$10,000

Loan Approval from the SBA

Of the total $10,000 loan amount, the SBA guaranteed $5,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 3 employees. The loan application indicated that the funding would help create 3 new jobs.

Next Steps for Getting an SBA Loan

The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

About This SBA Loan Information:

All SBA loan data displayed above comes from the government's publicly available SBA loan database. Information on this page is provided by the Gaebler.com news organization to inform business owners, aspiring entrepreneurs and others about SBA loan activity. LoanCensus.com does not assist businesses with obtaining SBA loans and was not involved in any way with this transaction. For additional information, see our Loan Information FAQ.

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